Kevin Fischer is a veteran broadcaster, the recipient of over 150 major journalism awards from the Milwaukee Press Club, the Wisconsin Associated Press, the Northwest Broadcast News Association, the Wisconsin Bar Association, and others. He has been seen and heard on Milwaukee TV and radio stations for over three decades. A longtime aide to state Senate Republicans in the Wisconsin Legislature, Kevin can be seen offering his views on the news on the public affairs program, "InterCHANGE," on Milwaukee Public Television Channel 10, and heard filling in on Newstalk 1130 WISN. He lives with his wife, Jennifer, and their lovely baby daughter, Kyla Audrey, in Franklin.
Wal-Mart (WMT, Fortune 500) reported on Thursday a 3.9% same-store-sales gain for May, excluding the impact of fuel sales. That was more than double the 1.6% gain expected by Thomson Reuters analysts, and it's more than triple last year's gain of 1.1% for the month. Same-store sales are recorded from stores open at least a year.Including gasoline, which soared in price over the past month, May same-store sales rose 4.4%.
"We're seeing some benefits from the stimulus checks," Wal-Mart Chief Executive Eduardo Castro-Wright said in a press release. The stimulus, he said, combined with other factors including "price leadership," contributed to the sales increase."
Customers continue to rely on Wal-Mart to stretch their dollars," said Castro-Wright. He reported that grocery sales were strong, as well as sales for flatscreen TVs, computers and digital electronics.
Wal-Mart Chief Financial Officer Tom Schoewe said in a teleconference that $350 million worth of stimulus checks were cashed at Wal-Mart stores during the month of May, but it was unclear what that money was spent on.
Consumers are choosing to make purchases at big, bad, evil corporate giant Wal-Mart.
Because they can save lots of money, that’s why.
That is NOT a bad thing.